Goldman Sachs analyst raises 2026 copper price forecast to USD 12,650/ton from USD 11,400/ton and expects copper prices to remain volatile as the market continues to assess impacts of the events in the Middle East on economic growth

Goldman Sachs' upward revision of the 2026 copper price forecast signals increased confidence in the demand for copper amidst ongoing geopolitical uncertainties, particularly in the Middle East. This forecast suggests potential volatility in copper markets as traders gauge the broader economic impacts, which could affect supply chains and industrial usage across various sectors. Such movements can have downstream effects on commodity-linked currencies and inflation trajectories.